WEX (NYSE:WEX) Price Target Raised to $280.00 at Barclays

WEX (NYSE:WEX) had its target price raised by Barclays from $255.00 to $280.00 in a report published on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the business services provider’s stock.

A number of other research firms have also recently weighed in on WEX. Truist Financial upped their price target on shares of WEX from $185.00 to $220.00 and gave the stock a hold rating in a research note on Friday, February 9th. Robert W. Baird increased their target price on shares of WEX from $272.00 to $285.00 and gave the company an outperform rating in a report on Monday. JPMorgan Chase & Co. boosted their price target on WEX from $205.00 to $239.00 and gave the stock a neutral rating in a research note on Friday, February 9th. Evercore ISI raised their price objective on WEX from $250.00 to $275.00 and gave the company an outperform rating in a research note on Tuesday, March 26th. Finally, TheStreet upgraded WEX from a c rating to a b rating in a research report on Thursday, February 8th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $236.92.

WEX Stock Up 0.2 %

Shares of WEX stock opened at $233.47 on Tuesday. The company has a market cap of $9.75 billion, a P/E ratio of 37.90, a PEG ratio of 1.53 and a beta of 1.59. The firm has a fifty day moving average of $228.29 and a two-hundred day moving average of $201.62. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.05 and a current ratio of 1.05. WEX has a one year low of $161.95 and a one year high of $244.04.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 EPS for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). WEX had a net margin of 10.46% and a return on equity of 31.33%. The firm had revenue of $663.30 million during the quarter, compared to analyst estimates of $656.75 million. On average, analysts forecast that WEX will post 13.51 earnings per share for the current year.

Insider Transactions at WEX

In related news, insider Ann Elena Drew sold 4,531 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $218.03, for a total transaction of $987,893.93. Following the transaction, the insider now owns 3,653 shares of the company’s stock, valued at $796,463.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other WEX news, insider Ann Elena Drew sold 4,531 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $218.03, for a total value of $987,893.93. Following the completion of the transaction, the insider now directly owns 3,653 shares in the company, valued at approximately $796,463.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jagtar Narula sold 309 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total value of $72,071.16. Following the sale, the chief financial officer now owns 5,528 shares in the company, valued at approximately $1,289,350.72. The disclosure for this sale can be found here. Insiders sold a total of 69,433 shares of company stock worth $14,708,896 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC grew its holdings in WEX by 19,044.7% in the fourth quarter. International Assets Investment Management LLC now owns 35,992 shares of the business services provider’s stock valued at $7,002,000 after purchasing an additional 35,804 shares during the period. Schonfeld Strategic Advisors LLC grew its stake in shares of WEX by 56.1% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 141,287 shares of the business services provider’s stock valued at $26,575,000 after buying an additional 50,771 shares during the period. Burney Co. increased its holdings in shares of WEX by 131.1% during the 3rd quarter. Burney Co. now owns 21,120 shares of the business services provider’s stock worth $3,972,000 after buying an additional 11,983 shares during the last quarter. Deutsche Bank AG raised its position in shares of WEX by 65.5% in the 3rd quarter. Deutsche Bank AG now owns 54,523 shares of the business services provider’s stock worth $10,255,000 after buying an additional 21,578 shares during the period. Finally, Comerica Bank acquired a new position in WEX in the third quarter valued at $6,545,000. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Company Profile

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.